Saturday May 18, 2013

Yahoo Rumored Set to Buy Tumblr for $1.1 Billion

Yahoo’s Marissa Mayer is a certified world class shopper and adding to her recent purchases is rumored to be Tumblr social networking site. Details are incomplete, but with a Board meeting on Sunday for financial approval and a planned product related event scheduled for Monday afternoon, the announcement of Tumblr’s acquisition is almost a slam dunk certainty at this point.

The company's board will meet Sunday to decide whether it will make a $1.1 billion all-cash offer for the site.

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